Brookfield Buys Washington Television Center Building for $113M

Brookfield Properties has acquired a 20-year old DC office building for $113 million according to a CoStar report. The office building at 650 Massachusetts Avenue, NW in Washington, DC was sold by Washington Television Center. Brookfield used its available cash resources to complete the acquisition.

650 Massachusetts Avenue, NW is an eight-story office building containing 317,000 rentable square feet and a four-story parking garage. The building is currently 74% leased to tenants including the Department of Homeland Security, NPR and Atlantic Video, and serves as the global headquarters of Blackboard, an educational software company. "We are strong believers in the long-term viability of the DC office market, and this acquisition fits our strategy of owning assets in the best-located areas within our core markets," said Dennis Friedrich, president and chief executive officer of Brookfield Office Properties' U.S. Commercial Operations.

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